Hargreaves Lansdown appoints Vanguard's Matt Benchener as CEO

(Sharecast News) - Investment platform Hargreaves Lansdown said on Monday that it has appointed Matt Benchener as chief executive officer, with effect from July.

Benchener will join Hargreaves in March for a handover period working alongside existing interim CEO, Richard Flint.

He joins HL from Vanguard, where he is a managing director and head of Vanguard Personal Investor, the company's US retail direct business with several times the number of clients of HL, and several trillion dollars in assets. Benchener is also a member of Vanguard's senior executive team.

HL said that while at Vanguard, "he led a large-scale operational turnaround, transformed Personal Investor's technology and digital platforms, launched a disruptive cash and savings offer, drove rapid growth in Vanguard's advice business, and helped win multiple awards for industry-leading customer satisfaction".

When Benchener takes up the CEO role on a full-time basis from July, Richard Flint will move to a new role on the board as deputy chair.

Benchener said: "Hargreaves Lansdown created the retail investing market as we know it in the UK, with an unrivalled heritage, highly trusted brand and market-leading insight. Its mission and broad reach give it a distinct responsibility in UK society to support the long-term financial wellbeing of millions.

"It is a privilege to lead the company through this exciting stage in its history and to deliver even more for clients and help the UK become a nation of retail investors."